The Board of Arman Financial Services approves the issue of securities

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In session held on August 14, 2022

The Arman Financial Services Board at its meeting held on August 14, 2022 has approved the following:

Issue of up to 2,17,884 Compulsorily Unsecured Convertible Debentures of the Company of face value of Rs.1,230 crore with a maximum aggregate amount of such CCDs of Rs.26.79 crore.

Issue of up to 3,21,134 Cumulative Redeemable Optionally Convertible Non-Participating Preference Shares of the Company of the face value of Rs.10 each at a premium of Rs.1,220 per share for a total maximum amount of this OCRPS of Rs.39.49 crore .

The Board also approved the reclassification of the authorized share capital of the company from dividends of Rs 15 crore on equity shares of Rs 10 crore each to dividends of Rs 15 crore on 1.4 crore equity shares of 10 rupees each and 10 lakh redeemable optionally convertible preference shares of Rs. 10 each

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!